Key Findings for the Global Hot Melt Adhesives Market | Technavio

LONDON–(BUSINESS WIRE)–#Research—Technavio
market research analysts forecast the global
hot melt adhesives market to grow at a CAGR of more than
6% during the period 2018-2022, according to their latest report.

This market research report segments the global hot melt adhesives
market based on the end-user segments (packaging industry, hygiene
products industry, construction industry, automotive industry, and
electronics industry), and key regions (the Americas, APAC, and EMEA).

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In this report, Technavio analysts highlight the excellent properties of
hot melt adhesives as a key factor contributing to the growth of the
global hot melt adhesives market:

Excellent properties of hot melt adhesives

Hot
melt adhesives are extensively used for many industrial
applications due to some of their properties like rapid bond formation,
flexibility of part designing, ability to bond with non-porous surfaces,
superior bond moisture sensitivity, longer shelf-life, and ease of
storage. Hot melt adhesives are used in a variety of end-user industries
like packaging, apparel, hygiene products, construction, electronics,
and automotive. Unlike conventional adhesives, hot melt adhesives do not
emit VOCs, due to which they are used in the hygiene products industry
for baby diaper and feminine hygiene products. They exhibit quicker
drying time, higher adhesion, and can withstand higher temperatures due
to which they are used in the exterior parts of automobiles and
construction industry. The strong adhesion to nylon and leather products
enables use of hot melt adhesives in the footwear and textile industries.

According to a senior analyst at Technavio for specialty
chemicals research, “The increased use of hot melt
adhesives in a wide range of applications owing to their enhanced
performance and excellent properties is expected to be one of the key
factors that will drive the growth of the global hot melt adhesives
market during the forecast period.”

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Global hot melt adhesives market segmentation

Of the five major end-user segments, the packaging industry held the
largest market share in 2017, accounting for over 37% of the market.
Increase in awareness with respect to the importance of hygiene and
hygiene-related products will fuel the demand for hot melt adhesives for
products such as baby diapers and other personal care products. The
hygiene products industry will witness the maximum growth during the
forecast period.

The Americas was the leading region for the global
hot melt adhesives market in 2017, accounting for a
market share of more than 41%, followed by EMEA and APAC. While the
Americas and EMEA are expected to witness a small increase in their
respective market share, APAC is expected to witness a slight decline in
its market share by 2022.

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